Penn National: Barstool Off to Strong Start in Michigan

So far, so good for Barstool Sports in Michigan. The latest numbers from the Penn National Gaming, Inc. Fourth Quarter 2023 Earnings presentation pointed to a successful online sports betting and mobile casino gaming launch.

The Barstool Sportsbook was one of the top operators to go live with online sports betting on Jan. 22. In the first 10 days, there were 48,400 registrations with 26,200 first-time depositors, a $27.5 million handle and $3.3 million in gross gaming revenue.

Michigan’s opening weekend numbers trumped Pennsylvania's debut weekend, too. Michigan had more registrations (24,445 compared to 21,865), more first-time deposits (18,946 to 11,294) and a larger handle ($13,698 to $8,137) than Pennsylvania in the first three days the Barstool Sportsbook was live in each state, according to Penn National.

Michigan also had a higher daily active user rate (DAU), with the state’s DAUs 1.8 times higher than average DAUs in Pennsylvania. The publicity from Michigan’s launch boosted registrations in Pennsylvania by 99% when looking at the week over week numbers in the state, Penn National reported.

Barstool Online Casino Now Live

Barstool’s online casino product officially went live on Feb. 1 after it was approved by the Michigan Gaming Control Board. According to the earnings report, in the first two days the internet casino was in operation, the Barstool iCasino converted nearly 15% of Michigan sportsbook customers.

Barstool’s casino includes popular table games such as blackjack, baccarat, roulette and more. There are also familiar slot titles such as Wheel of Fortune, Cats, Baywatch and Cleopatra.

To celebrate the launch, Barstool is offering numerous promotions for new players who use the casino. New users will be eligible for a $500 bonus. Players receive 100% risk-free casino wagering up to a maximum of $500 in bonus cash during their first 24 hours.

Barstool is also holding a Dodge Challenger giveaway for casino players. Users will earn one entry into the drawing for every $100 in cash casino wagers. Three prize winners will be selected at random on March 6 at the Greektown Casino. There will be one prize winner that will receive $60,000 credit to use at any Szott Autogroup Dealership, one winner of a $10,000 cash prize and one Greektown Casino Getaway prize.